PACCAR (NASDAQ:PCAR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of PACCAR (NASDAQ:PCARFree Report) from a sell rating to a hold rating in a research note released on Saturday.

Several other research analysts have also weighed in on the company. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. raised their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Citigroup raised their price target on shares of PACCAR from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Sanford C. Bernstein set a $138.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $115.92.

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PACCAR Stock Down 0.3%

Shares of NASDAQ PCAR opened at $122.91 on Friday. PACCAR has a 1 year low of $84.65 and a 1 year high of $125.36. The firm’s 50 day moving average price is $113.86 and its 200 day moving average price is $103.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 1.70. The firm has a market cap of $64.55 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.01.

PACCAR (NASDAQ:PCARGet Free Report) last released its earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, sell-side analysts anticipate that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio is 29.27%.

Hedge Funds Weigh In On PACCAR

A number of institutional investors and hedge funds have recently bought and sold shares of PCAR. Norges Bank bought a new stake in shares of PACCAR in the 2nd quarter worth $472,520,000. UBS Group AG raised its position in PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in PACCAR by 2,389.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock valued at $197,705,000 after acquiring an additional 1,930,056 shares during the last quarter. American Century Companies Inc. boosted its position in shares of PACCAR by 235.9% during the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after purchasing an additional 1,784,236 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of PACCAR by 25.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after purchasing an additional 1,165,443 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Key PACCAR News

Here are the key news stories impacting PACCAR this week:

About PACCAR

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PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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